Welcome to our dedicated page for Vita Coco Company news (Ticker: COCO), a resource for investors and traders seeking the latest updates and insights on Vita Coco Company stock.
The Vita Coco Company, Inc. (NASDAQ: COCO) is a better-for-you beverage company best known for its flagship Vita Coco coconut water brand. This news page aggregates company press releases and updates, giving readers a focused view of how Vita Coco develops its brands, communicates with investors, and positions coconut water and related beverages in the marketplace.
In recent announcements, the company has highlighted its role in sports and fitness hydration, describing Vita Coco Original Coconut Water as “The Better Fitness Fuel” and emphasizing its naturally occurring electrolytes. News items include partnerships with elite athletes, such as naming U.S. Men’s National Team soccer player Weston McKennie a Global Brand Ambassador, and the introduction of Major League Hydration by Vita Coco™, a community of athletes across football, golf, tennis, soccer, and pickleball who prefer coconut water for performance and recovery.
Vita Coco also issues news on collaborations with organizations like Rush Soccer, described as the world’s largest youth soccer organization, and on experiential activations such as the Concrete Jungle Gym fitness pop-up in Brooklyn and seasonal initiatives like the Coco Card holiday program in New York City. These stories illustrate how the company connects its beverages to everyday and high-intensity hydration occasions.
Investors and followers can also find company statements on tariff developments affecting coconut water products and press releases tied to quarterly financial results. By checking this page regularly, readers can see how The Vita Coco Company evolves its brand portfolio, engages with consumers and athletes, and communicates significant business updates.
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The Vita Coco Company (NASDAQ: COCO) announced it will release its financial results for Q1 2023 on May 3, 2023, before market open. The company will hold a conference call at 8:30 a.m. ET on the same day to discuss these results. Vita Coco, co-founded in 2004, is recognized for its innovative beverage brands, including Vita Coco coconut water, Runa clean energy drink, Ever & Ever sustainable water, and PWR LIFT protein-infused water. The company is a Public Benefit Corporation and a Certified B Corporation™, focusing on balancing purpose with profit. Investors can participate in the earnings call by registering through the links provided in the press release.
The Vita Coco Company (NASDAQ: COCO) has launched a virtual experience on Roblox, called The Coconut Grove, allowing users to plant coconut seedlings and learn about sustainable farming. In a unique initiative, Vita Coco will match every coconut seedling planted by users up to 100,000 through their Seedlings for Sustainability program. On Earth Day, each seedling planted in the game will lead to the distribution of five real seedlings. The company aims to distribute up to 10 million seedlings globally by 2030. Players can earn CocoCoins™ for engaging in various farming activities, promoting environmental awareness alongside fun. This initiative represents a blend of immersive entertainment and social responsibility, with all in-game purchases supporting sustainability efforts.
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The Vita Coco Company has released its second annual Impact Report, titled Cultivating Change; Growing Good: Our 2022 Impact Report, detailing its environmental and social initiatives. The report highlights efforts in protecting natural resources, including distributing over 22,956 seedlings and training 1,050 farmers in regenerative practices. It also includes the construction of three classrooms, positively affecting over 71,000 people, and the donation of over 8.75 million meals to combat food insecurity. Additionally, the Company launched a new transparency initiative on its website, allowing consumers to learn more about its farming practices. As a public benefit corporation, Vita Coco aims to balance business success with social responsibility.
The Vita Coco Company reported a 13% increase in net sales for 2022, reaching $428 million, primarily driven by an 18% growth in Vita Coco Coconut Water. The fourth quarter net sales grew by 6% to $92 million, slightly exceeding expectations. However, gross profit fell to $103 million, down from $113 million, due to rising transportation costs. The company recorded a net income of $8 million, down from $19 million the previous year. For 2023, guidance includes a net sales growth of 9-11% and an Adjusted EBITDA forecast of $52-$58 million, anticipating improvements in costs and margins as supply chain issues ease.
The Vita Coco Company (NASDAQ: COCO) has appointed Corey Baker as its new Chief Financial Officer, effective immediately upon filing the Company’s Annual Report on Form 10-K. Baker brings over 16 years of experience from PepsiCo, where he led global finance teams and supported strategic initiatives. He will oversee all finance functions, including treasury, investor relations, and accounting. Baker's appointment follows the interim service of Rowena Ricalde, who is now Chief Accounting Officer. The Company aims to leverage Baker’s expertise to enhance its financial strategy and performance.
The Vita Coco Company (NASDAQ: COCO) announced it will release its fourth quarter financial results for the period ending December 31, 2022, on March 8, 2023, before market open. A conference call will follow at 8:30 a.m. ET that same day to present the results and address questions. Vita Coco, a leader in the better-for-you beverage sector, operates brands like Vita Coco coconut water and Runa clean energy. The company was co-founded by Michael Kirban and Ira Liran in 2004, and is recognized as a Certified B Corporation™.
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